Stevia Mints: Market Outlook
Stevia mints also known as breath freshening gum is flavored with natural or synthetic mint oil with varied mint concentration. Due to consumer’s inclination towards an indulgent taste experience with reduced sugar and calories, is likely to contribute to the growth of stevia mints market. For product formulators, stevia has become a versatile ingredient that can address both the technical issues of formulating without sugar, while also maintaining a label-friendliness in a variety of food and beverage applications.
Growing demand for low and no calorie sweeteners along with plant-based and label friendly products is driving the stevia mints market. Asia Pacific stevia mints market is anticipated to grow significantly, as the Asia Pacific holds the prominent share in production and export of stevia mints. The stevia mint market is estimated to increase significantly due to swift growth in end-user consumption as they are a popular alternative to pill in the oral health aisle.
Stevia Mints Witness a Lucrative Demand from the Food Industry:
The market is attributed to the widespread demand of stevia mints from food and pharmaceutical industry owing to the fact that it is free from aspartame and artificial sweeteners. The factors facilitating the growth of the market includes, that they are label-friendly and provide a sweet taste without sugar or calories. Recent innovations in stevia have provided new tools for delivering more cost-effective and better tasting solutions.
The manufacturers of stevia mints are witnessing increasing demand from pharma industry as it protects teeth against cavities, gives long lasting fresh mint scent and also suitable for diabetic population. Increasing number of governing approvals from associations like FDA and U.S Department of Agriculture regarding the use of stevia is expected to lift the demand for market over the forecast.
Global Stevia Mints: Market Segmentation
On the basis of type, stevia mints can be segmented as-
- Stevia mint spray
- Stevia mint candies
- Stevia mint gums
- Others (tablets)
On the basis of flavor, stevia mints can be segmented as-
- Iceberg mint
- Glacier mint
On the basis of packaging, stevia mints can be segmented as-
- Paper Bags
On the basis of application, stevia mints can be segmented as-
- Food Industry
On the basis of distribution channel, stevia mints can be segmented as-
- Modern Trade
- Convenience Stores
- Departmental Store
- Specialty Store
- Drug Store/Pharmacies
- Online Retailers
- Other Sales Channels
Global Stevia Mints: Key Players
Some of the industry participants include Johnson & Johnson; Mars; The Hershey Company; Kraft Foods Inc.; Perfetti Van Melle; Lotte; Haribo GmbH & co.; Midas Care; Dabur Binaca; and Cadbury Trebor Basset Perfetti Van Melle, Mondelez International, Mars Incorporated, Nestle SA, and Hershey's and others.
Opportunities for Global Stevia Mints Market Participants:
In terms of volume, Asia Pacific accounts for the dominating share in the global stevia mints market in 2019. The region is likely to experience the significant growth in the next few years. Thus, it is anticipated to maintain its dominance during the forecast period. North America is predicted to offer fast-growing markets for stevia mints during the forecast period. Increasing demand for plant-based alternatives from the food industry and rapid developments in the pharma industry is projected to drive the demand for stevia mints market in these regions.
The COVID-19 pandemic affected the global supply chain on a vast scale. The Stevia Mints manufacturers spend a lot capital while procuring the ingredients. The factor restricting them a good purchase price is low production capacity.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
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Below is a snapshot of these quadrants.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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